We appreciate that being successful at running your own law firm needs not only your expertise in practicing law, but being able to manage your firm as a business too. Not always an easy thing to do!
Here's a great tip to start you off:
Bringing in the work is fantastic, but having a great business model in place will give your business an additional boost to help you maximise your profits. Make sure it is adaptable, because as you naturally grow, managing your finances such as cash flow, profit and loss will become much easier and you will be able to keep your balance sheets in order too!
This is where Partner Paul Levy and Tax Consultant Justine Davies can both support you. With many years of experience under their belts, they can help with any of the following:
- Perform a Solicitors' audit and prepare the 'Accountants Report Form – AR1' for submission to the 'Solicitors Regulation Authority' and the 'Reporting Checklist' for the Solicitor client **
- Manage your financial responsibilities, whether you are a sole trader, partnership, limited company or limited liability partnership
- Deal with any additional complex (VAT) issues
- Maximise the practice's earning potential and minimise tax bills, for both the practice and individual Solicitors.
** Specialist audit compliance issues required by Solicitors in respect of the annual reporting to the 'Solicitors Regulation Authority’.
Field any questions you may have on +44 (0)20 8861 7575 or complete the form on your right if you prefer, and we’ll call you straight back (within 24 hours).
Why not watch the video below as a great way to get to know Paul and to find out more about this service.